August 13, 2015
By ALLISON GATLIN
INVESTOR’S BUSINESS DAILY
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Skyworks Solutions (NASDAQ:SWKS) stock was up nearly 1% Thursday afternoon, after the Apple (NASDAQ:AAPL) chip supplier announced it will expand operations in Osaka, Japan.
Skyworks teamed up with Osaka-based Panasonic in April 2014 to design and develop high-performance filters for use in mobile devices and the emerging Internet Of Things markets.
Skyworks expects its expansion — a two-story, 405,000-square-foot facility — to be complete by September, according to its press release.
Those operations will be critical to addressing the increasingly challenging task of keeping up with consumer demand for constant connectivity, CEO David Aldrich said in the release.
“Given the increasing importance of filters to our target markets and customers, we are expanding our internal capability to meet current and future demand in a world-class environment,” he said.
Skyworks stock has risen 115% to above 90 since its April 2014 team-up with Panasonic. The stock broke out in May, setting a record high at 112.88 in June before hitting a snag that sent it back below its 200-day moving average a month later.
In early afternoon trading on the stock market today, Skyworks stock was trading near 90.50.
In its IBD Electric-Semiconductor Manufacturers group, Skyworks boasts a leading 98 Composite Rating. Qorvo (NASDAQ:QRVO) and Taiwan Semiconductor Manufacturing (NYSE:TSM) follow at 93.
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